Deutsche Bank to keep investment banking unit as competitors shrink: related news

Deutsche Bank to keep investment banking unit as competitors shrink

Deutsche Bank will keep its investment banking business and expects it to make "significant" contributions to earnings again, Chief Executive Josef Ackermann said.

DBS Bank appointment

DBS Bank has announced Mr Rahul Johri as the new head for its consumer banking division in India. Mr Rahul would also be a member of the Group Consumer Banking Executive Committee at DBS Bank. Mr Rahul brings with him extensive experience of consumer banking, having spent seventeen years of his career between ANZ Grindlays, Standard Chartered Bank and Barclays Bank. Prior to joining DBS Bank, Mr Rahul worked with Barclays Bank, India and held the post of Business Head - Retail Liabilities. He was part of the start-up team for Barclays Bank, India and also developed the alternate channel strategy for the retail bank. - Our Bureau

Russia's Alfa Bank says buys stake in smaller rival

MOSCOW, Nov 30 (Reuters) - Russia's Alfa Bank has bought a controlling stake in a distressed regional rival, it said in a statement on Sunday, further evidence that a global squeeze on credit is troubling Russia's sprawling banking sector. Alfa Bank, the country's biggest private bank, had been looking for takeover targets among Russia's 1,000 banks during the global economic downturn which has hit the Russian banking sector hard and forced it to consolidate. 'Today, Alfa Bank, has announced the acquisition of a controlling stake in leading bank Severnaya Kazna,' Alfa Bank said in a statement. 'In conjunction with the Central Bank of Russia and the Deposit Insurance Agency, Alfa Bank will make efforts to stabilise and strengthen the position of Severnaya Kazna in the Urals' banking sector.

KSE index extends losses to 2nd session as banking shares slide

KUWAIT CITY, Dec 02: Banking stocks dragged Kuwait Stock Exchange sharply lower on Tuesday amid moderate profit booking. The market plunged 92.9 points, extending its losses to the second day, led by National Bank of Kuwait and Kuwait Finance House even as most of the heavyweights closed in the red. NBK dropped 3.8 percent and the Islamic lender lost 3.4 percent in slightly volatile trading. Some of the mid and low priced stocks too sagged, adding to the downward momentum. Banking stocks closed mostly lower. Commercial Bank and Burgan Bank fell 20 fils each while Boubyan Bank took in 5 fils. Bank of Kuwait and Middle East too edged 20 fils lower and Al Ahli Bank was not traded during the day. Investment conglomerate KIPCO shed 30 fils and Investment Dar fell 10 fils.

DEUT - Deutsche Bank AG - Notice of Expiry: Deutsc

JSE TOPDBQTOPDBZTOPDBJTOPDWYTOPDWZTOPDBLTOPDBKTOPDWXTOPDBP DEUT DEUT - Deutsche Bank AG - Notice of Expiry: Deutsche Bank warrants Deutsche Bank AG (Incorporated under the laws of the Federal Republic of Germany) Acting through its London branch Notice of Expiry: Deutsche Bank warrants Warrant Code TOPDBJ TOPDBK Underlying Code JTOPI JTOPI Expiry Date 2008-Dec-11 2008-Dec-11 ISIN DE000DB0G9J2 DE000DB0G9K0 Strike Price 31,500.00 33,000.00 Cover Ratio 4,000.00 4,000.00 Issue Size 50,000,000.00 50,000,000.00 Call / Put C C American / European E E Warrant Code TOPDBL TOPDBZ Underlying Code JTOPI JTOPI Expiry Date 2008-Dec-11 2008-Dec-11 ISIN DE000DB0G9L8 DE000DB0G9M6 Strike Price 34,500.00 26,000.00 Cover Ratio 4,000.00 2,500.00 Issue Size 50,000,000.

Bank of America Completes Merrill Lynch Purchase

Gains Strength in Wealth Management, International and Investment Banking Businesses CHARLOTTE, N.C., Jan. 1 /PRNewswire/ -- Bank of America Corporation today completed its purchase of Merrill Lynch & Co., Inc. creating a premier financial services franchise with significantly enhanced wealth management, investment banking and international capabilities. (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b ) "We created this new organization because we believe that wealth management and corporate and investment banking represent significant growth opportunities, especially when combined with our leading capabilities in consumer and commercial banking," said Bank of America Chairman and Chief Executive Officer Ken Lewis. "We are now uniquely positioned to win market share and expand our leadership position in markets around the

Deutsche Bank receives UAE Central Bank license to offer wholesale banking in the Emirates

Deutsche Bank announced today that it has received the authorization of the Central Bank of the United Arab Emirates to conduct wholesale banking through an on-shore branch, which will enable it to take institutional deposits, and offer loans and advances to corporate entities, government and semi-government institutions.

State Bank Corp. Declares Cash Dividend

LAKE HAVASU CITY, Ariz., Dec. 20, 2008 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ), the holding company for Mohave State Bank, today announced the declaration of its fourth quarter cash dividend to shareholders. The Board of Directors of State Bank Corp. declared a quarterly cash dividend of $0.10 per share payable to shareholders of record on January 9, 2009. The dividend will be paid on or about January 22, 2009. About the Company State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County, with $368 million in assets as of September 30, 2008. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals.

Ganz Calls On Bank of Israel to Establish Credit Fund

Ramat Gan, Israel, December 17, 2008: Israel Diamond Manufacturers Association (IsDMA) president Moti Ganz has called upon the Bank of Israel to intervene in the terms of credit made available to the Israeli diamond industry. In a letter sent this week to Stanley Fischer, governor of the Bank of Israel, Ganz proposed that the Bank establish a $2.25 billion credit fund for the diamond industry out of the central bank’s foreign exchange surplus. This credit would be made available to diamantaires through the banks financing the industry -- Union Bank, Israel Discount Bank, Bank Leumi, First International Bank and Mizrahi Tefahot Bank. Diamantaires would continue to pay individualized margins according to the company’s level of risk, but would save the cost of raising the funds (the London Interbank Offered Rate, or LIBOR).

Moody's reaffirms "Investment Grade" rating to Doha Bank

Doha BankMoody's Investor Service, the International Rating Agency reaffirmed Doha Bank's Foreign Currency Deposit Ratings as "A2 / P-1" and the Bank's Financial Strength Rating (BSFR) at D+ with a Stable Outlook. Moody's rating reaffirmation recognizes the bank's good financial performance and its well-established franchise in Qatar. The ongoing improvement in the domestic operating environment has also helped the banking sector in which Doha Bank is a major player. The ratings also factored the management's focus on retail banking that and the improvement in the quality and stability of earnings. The rating agency further observed that Doha Bank has a satisfactory liquidity management while its market risk appetite is assessed as moderate.

VTB finalizes acquisition of 51% stake in Azerbaijan's AF-Bank

MOSCOW. Dec 9 (Interfax) - VTB Bank (RTS: VTBR) has finalized the acquisition of a 51% stake in Azerbaijan's AF-Bank, the Russian bank said in a statement. AF-Bank will be renamed VTB Bank (Azerbaijan) in the near future. VTB decided to acquire a controlling stock interest in AF-Bank as part of a strategy to expand the VTB Group's presence in CIS countries. In entering the Azerbaijani market, VTB expects to contribute to the development of bilateral trade and economic relations between Baku and Moscow. VTB Bank (Azerbaijan) will support intergovernmental programs and also participate in large Russian-Azerbaijani projects that are being carried out with Russian capital, the statement says. The National Bank of Azerbaijan approved the purchase in November.

UPDATE 1-Bank of America dashes China bank sale talk, CCB falls

By Clare Jim and Donny Kwok HONG KONG, Dec 15 (Reuters) - Shares in China Construction Bank, the country's most valuable lender, slid more than 4 percent on Monday even after Bank of America poured cold water on a local newspaper report it planned to unload its stake in the Chinese bank at a discount. The No. 3 U.S. bank, which owns 19.13 percent of Construction Bank, aims to sell 3-6 billion of the Chinese lender's Hong Kong shares at a discount of 13-17 percent to its Friday close, raising up to $3 billion, the Apple Daily cited unidentified market sources as saying. Both the U.S. firm -- which is slashing up to 35,000 jobs over three years to save $7 billion and offset an erosion of business from a global economic downturn -- and a source close to Construction Bank, denied the report.

St. Lawrence Energy Corp. Announces Funding Negotiations With Major Investment Banking Firm

PALO ALTO, Calif. (Business Wire) -- St. Lawrence Energy Corp., a reusable energy and technology company, announced today that it is seeking funding through a major investment banking firm. This funding will be used to finance the operations and the R&D efforts with NASA. “It is now exciting to see interest from the investment banking sector, as we accelerate our movement to become a fully operating company in the alternative energy and technology market. We are now in negotiations with a major investment banking and asset management firm to obtain capital for operations and the collaborative R&D efforts with NASA,� said Robert Mitchell CEO of St. Lawrence Energy Corp.

Bank of China not seen any RBS notice to sell-report

SHANGHAI, Dec 30 (Reuters) - Royal Bank of Scotland has not expressed any intention to sell the Hong Kong-listed shares of Bank of China as a lock-up period expires this month, the Oriental Morning Post reported on Tuesday. The newspaper cited Bank of China spokesman Wang Zhaowen and noted that if the British bank wished to sell the shares, it had to ensure price stability. According to the terms of the contract, BRS must inform Bank of China one month ahead of any planned share sale, but the Chinese lender has not received such notice yet, the Chinese-language newspaper said. Reuters could not immediately reach Bank of China for comments. The report came amid talks that RBS, hit by the global financial crisis, was considering reducing its stake in Bank of China to increase liquidity.

SBI, Bank of India abandon plans to revive branches in Pakistan

and Bank of India have dropped their plans to revive their branch operations in Pakistan. While the banks have denied that their rethink has any connection to the tension between India and Pakistan, the timings for the call-off is significant. The bank managements say they were forced to take a decision as Pakistan has hugely raised the minimum capital requirements of foreign banks that want to venture into the country. Both the banks had approached Pakistan s apex bank, State Bank of Pakistan (SBP), in September 2008, to seek an approval to re-start their banking activities that existed in the cities of Karachi and Lahore till 1965. Pakistani banks like United Bank of Pakistan and Habib Bank too have not approached RBI so far to obtain branch opening permissions in India.

Caixa Catalunya selling 824 bank branches - paper

MADRID, Dec 14 (Reuters) - Spanish savings bank Caixa Catalunya is seeking to sell 824 of its 1,200 buildings in Spain in a bid to raise 500 million euros ($663.4 million), La Vanguardia reported on Sunday, citing sources at the bank. The bank wants to strike a deal with potential buyers to continue to rent the branches, with a buy-back option for 10, 15 and 20 years, and wants to sell them in lots of 5 million euros, which would include 10 to 15 premises, the paper said. The bank is in particular targeting its private banking clients as potential buyers, it added. Its head office in Barcelona is not up for sale, added the report. No one was immediately available at the bank on Sunday to comment. Other Spanish banks have also closed leaseback deals on their property, notably Spain's largest bank Santander, which has sold more than 1,150 o

Deutsche Bank CEO rejects idolatry tag

A public exchange between prominent German bank, Deutsche Bank, and Germany’s senior Protestant bishop, has turned controversial, with Deutsche Bank dismissing the remarks of Bishop Wolfgang Huber.

Deutsche Bank CEO rejects idolatry tag

A public exchange between prominent German bank, Deutsche Bank, and Germany’s senior Protestant bishop, has turned controversial, with Deutsche Bank dismissing the remarks of Bishop Wolfgang Huber.

Deutsche Bank CEO rejects idolatry tag

A public exchange between prominent German bank, Deutsche Bank, and Germany’s senior Protestant bishop, has turned controversial, with Deutsche Bank dismissing the remarks of Bishop Wolfgang Huber.

Deutsche Bank CEO rejects idolatry tag

A public exchange between prominent German bank, Deutsche Bank, and Germany’s senior Protestant bishop, has turned controversial, with Deutsche Bank dismissing the remarks of Bishop Wolfgang Huber.

Deutsche Bank CEO rejects idolatry tag

A public exchange between prominent German bank, Deutsche Bank, and Germany’s senior Protestant bishop, has turned controversial, with Deutsche Bank dismissing the remarks of Bishop Wolfgang Huber.

Deutsche Bank lowers Russian GDP growth forecast for 2009 to 1% from3.4%

MOSCOW. Dec 15 (Interfax) - Deutsche Bank has lowered its forecast for Russian GDP growth in 2009 to 1% from 3.4%, the bank said in a report. The forecast for GDP growth in 2010 has been reduced to 4% from 4.3%. Deutsche Bank analysts also lowered their forecast for the ruble's exchange rate against the U.S. dollar to 31.8 rubles/$1 at the end of 2009 from 26.9 rubles/$1. The forecast for the exchange rate at the end of 2010 has been lowered to 33.1 rubles/$1 from 28.1 rubles/$1. The analysts lowered the forecast for the average weighted price of Brent oil to $47.5 per barrel at the end of 2009 from $60 per barrel and to $55 at the end of 2010 from $57.7. tj (Our editorial staff can be reached at eng.editors@interfax.ru)

KASB Bank and Atlas Bank merger fails to materialise

KARACHI (December 29 2008): The merger between KASB Bank and Atlas Bank failed to materialise as the valuation of Atlas Bank Limited underwent a change after it availed a Rs 2.7 billion liquidity facility from the State Bank of Pakistan. According to informed source the valuation of Atlas Bank shares, after due diligence, was estimated at Rs 3.7 billion.

Marcus To Leave Deutsche Bank, Start New Fund

NEW YORK -- December 5, 2008: Drew Marcus, Vice Chairman of Media & Telecom Banking at Deutsche Bank in New York, informed the audience at Radio Ink's Forecast '09 event that he will be leaving Deutsche Bank at the end of the year to start a new opportunity fund.

Doha Bank

Doha Bank shareholders yesterday agreed to increase the bank’s capital by issuing new shares up to 20 percent of the capital, to be owned by Qatar Investment Authority. at an extraordinary general meeting in Doha. The call for the meeting came subsequent to the directives issued by the Emir H H Sheikh Hamad bin Khalifa Al Thani, to Qatar Investment Authority to enter as a strategic partner in order to support the banking sector in Qatar. The increase will be effected in two phases and the board of directors was authorised to decide the date, terms and conditions of the issue of new shares. Fahad bin Mohammed bin Jabor Al Thani, Chairman, Doha Bank, said: “The government of Qatar is also focusing on diversifying the revenue resources, encouraging foreign investments and not relying on oil as the main source of income.

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